Club owner denies banking scheme

By Larry Rulison

Published 7:30 pm, Tuesday, May 20, 2014

The owner of a Lake George nightclub whose bank account was seized by the Internal Revenue Service over questionable deposits denies any wrongdoing in newly submitted court papers.

In November, the IRS seized the bank account of DJ's Nite Club of Lake George at Glens Falls National Bank and Trust Co. after uncovering suspicious deposits made to the account last year.

The U.S. Attorney's office claims that DJ's owner Louis Jordan made multiple deposits just under $10,000 at the bank's Queensbury branch between May and September 2013.

The deposits, typically between $9,500 and $9,900, raised questions with federal authorities who believe Jordan may have been trying to evade federal laws that trigger financial reporting requirements on deposits larger than $10,000.

Federal authorities say such practices, known as "structuring" are considered a red flag for possible illegal activity such as money laundering or tax evasion.